India's gross polished diamond exports increased by 2.7 percent to $2.37 billion in August, the month when the important IIJS show is held. Net exports totaled $ 801.8 million, based on figures released by the GJEPC.

The net exports are a 13.9 percent decline in the dollar value of net exports as compared to August 2010. The decline may be a partial reflection of the trading slowdown that the diamond industry started to experience in August.

The volume of India's gross exports in August, 5.02 million carats, is a 16.4 percent decline from last year.

The Indian diamond sector has been fraught with issues related to soaring prices of both rough and polished diamonds, while liquidity is becoming a growing concern.